CryptoWatch: Cryptos surge off lows, but don’t expect gains to last, says analyst [MarketWatch]
BlackRock, Inc. (BLK)
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Source: MarketWatch
Cryptos surge off lows, but don’t expect gains to last, says analyst Cryptocurrency prices were marching higher in Thursday trading, with all major coins clawing back recent losses. However, the current state of play could be the calm before the storm, according to one crypto analyst. Bitcoin BTCUSD, +2.80% the worlds No. 1 digital currency, has remained resilient in the face of the altcoin slump, not surrendering the key support at $6,000. A single bitcoin was last worth $6,480.68, up 2.7% since Wednesday at 5 p.m. Eastern Time on the Kraken exchange. Still, the change in fortunes for digital-asset owners could be short-lived, says Jani Ziedins of CrackedMarket. “Bitcoin keeps slipping and is barely holding $6k support. Last week’s rebound to $7.4k is dead and gave us another lower-high since we failed to match the previous $8.4k bounce. Lower-highs tells us the next lower-low is just around the corner,” he wrote in a recent blog post., noting that the limited magnitude of the bou
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